The plague of zombie foreclosures – abandoned homes left to rot mid-foreclosure – is still haunting parts of America, but the numbers remain near record lows, according to ATTOM’s latest real estate ...
Bank owned properties, aka real estate owned or REO, are those that have been taken over by lenders due to problems paying the mortgage. These properties may be sold at bargain prices to move quickly.
Homes can become bank-owned properties if the homeowner defaults on their mortgage and the bank forecloses. Bank-owned properties may also be referred to as real estate owned, or REO for short.
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